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{{short description|American e-commerce and marketing services company}}
{{short description|American e-commerce and marketing services company}}
{{Infobox company
{{Infobox company
|name = Digital River
| name = Digital River, Inc.
|logo = Digital River logo.svg
| logo = Digital River logo.svg
|type = [[Private company|Private]]
| type = [[Privately held company|Private]]
| traded_as = {{NASDAQ was|DRIV}}
|foundation = {{start date and age|1994}}
| foundation = {{start date and age|1994}}
|founder = Joel Ronning {{Small|(former [[Chief executive officer|CEO]])}}
| founder = Joel Ronning {{Small|(former [[Chief executive officer|CEO]])}}
|location_city = [[Minnetonka, Minnesota]]
| location_city = [[Minnetonka, Minnesota]]
|location_country = [[United States|U.S.]]
| location_country = [[United States|U.S.]]
|area_served = Worldwide
| area_served = Worldwide
|key_people = {{Unbulleted list|Adam Coyle<ref name="bicoyle"/><br />|{{Small|(CEO)}}|Christopher Bernander|{{Small|(CFO)}}}}{{Citation needed|date=July 2018}}
| key_people = {{Unbulleted list|Adam Coyle<ref name="bicoyle"/> ([[Chief executive officer|CEO]])|Christopher Bernander ([[Chief financial officer|CFO]])}}{{Citation needed|date=July 2018}}
|industry = E-commerce
| industry = E-commerce
|products = [[Digital distribution|Digital software delivery]]
| products = [[Digital distribution|Digital software delivery]]
|revenue = $370.5 million<ref name="Digital River Reports Fourth Quarter and Full Year 2013 Financial Results">{{cite web|url=http://www.digitalriver.com/our-company/newsroom/press-release/digital-river-reports-fourth-quarter-and-full-year-2013-financial-results/|title=Digital River Reports Fourth Quarter and Full Year 2013 Financial Results|year=2014|publisher=Digital River|access-date=2014-02-05}}</ref>
|num_employees = 1,239<ref name="2009 Annual Report">{{cite web|url=http://phx.corporate-ir.net/phoenix.zhtml?c=94762&p=irol-reportsannual|archive-url=https://archive.today/20130221094001/http://phx.corporate-ir.net/phoenix.zhtml?c=94762&p=irol-reportsannual|url-status=dead|archive-date=2013-02-21|title=2009 Annual Report|year=2009|publisher=Digital River|access-date=2007-12-01}}</ref>
| revenue = $370.5 million<ref name="Digital River Reports Fourth Quarter and Full Year 2013 Financial Results">{{cite web|url=http://www.digitalriver.com/our-company/newsroom/press-release/digital-river-reports-fourth-quarter-and-full-year-2013-financial-results/|title=Digital River Reports Fourth Quarter and Full Year 2013 Financial Results|year=2014|publisher=Digital River|access-date=2014-02-05}}</ref>
| num_employees = 1,239<ref name="2009 Annual Report">{{cite web|url=http://phx.corporate-ir.net/phoenix.zhtml?c=94762&p=irol-reportsannual|archive-url=https://archive.today/20130221094001/http://phx.corporate-ir.net/phoenix.zhtml?c=94762&p=irol-reportsannual|url-status=dead|archive-date=2013-02-21|title=2009 Annual Report|year=2009|publisher=Digital River|access-date=2007-12-01}}</ref>
|homepage = {{URL|http://www.digitalriver.com/}}
| homepage = {{URL|http://www.digitalriver.com/}}
}}
}}
[[Image:DigitalRiver corp logo 4c.png|thumb|Digital River's previous logo.]]
[[Image:DigitalRiver corp logo 4c.png|thumb|Digital River's previous logo.]]
'''Digital River''' is a private company<ref>{{cite web|url=http://www.digitalriver.com/our-company/newsroom/press-release/digital-river-announces-completion-acquisition-investor-group-led-siris-capital-group/|title=Digital River Announces Completion of Acquisition by Investor Group Led by Siris Capital Group - Digital River|website=Digitalriver.com|access-date=13 October 2017}}</ref> that provides global [[e-commerce]], payments and marketing services. In 2013, Digital River processed more than $30 billion in online transactions.{{Citation needed|date=April 2020}} Digital River is headquartered in [[Minnetonka, Minnesota]].
'''Digital River, Inc.''' is a privately held company<ref>{{cite web|url=http://www.digitalriver.com/our-company/newsroom/press-release/digital-river-announces-completion-acquisition-investor-group-led-siris-capital-group/|title=Digital River Announces Completion of Acquisition by Investor Group Led by Siris Capital Group - Digital River|website=Digitalriver.com|access-date=13 October 2017}}</ref> that provides global [[e-commerce]], payments and marketing services. In 2013, Digital River processed more than $30 billion in online transactions.{{Citation needed|date=April 2020}} Digital River is headquartered in [[Minnetonka, Minnesota]].{{Citation needed|date=April 2020}}


==Company operations==
==Company operations==
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Notable acquisitions include:
Notable acquisitions include:
{{div col|colwidth=22em}}
{{div col|colwidth=22em}}
*[[Simtel]]
*[[Simtel]] (1999)
*CCNow (2002)<ref>{{cite web|url=http://www.internetretailer.com/2002/04/04/digital-river-acquires-certain-assets-of-ccnow-com|title=Digital River Acquires Certain Assets of CCNow.com|year=2002|publisher=Internet Retailer|author=Kurt Peters|access-date =2013-02-02|url-status=dead|archive-url=https://web.archive.org/web/20121005000723/http://www.internetretailer.com/2002/04/04/digital-river-acquires-certain-assets-of-ccnow-com|archive-date=2012-10-05}}</ref>
*CCNow (2002)<ref>{{cite web|url=http://www.internetretailer.com/2002/04/04/digital-river-acquires-certain-assets-of-ccnow-com|title=Digital River Acquires Certain Assets of CCNow.com|year=2002|publisher=Internet Retailer|author=Kurt Peters|access-date =2013-02-02|url-status=dead|archive-url=https://web.archive.org/web/20121005000723/http://www.internetretailer.com/2002/04/04/digital-river-acquires-certain-assets-of-ccnow-com|archive-date=2012-10-05}}</ref>
*SWREG (2005)<ref>{{cite web|url=http://investing.businessweek.com/research/stocks/private/snapshot.asp?privcapId=21754551|archive-url=https://web.archive.org/web/20130609204836/http://investing.businessweek.com/research/stocks/private/snapshot.asp?privcapId=21754551|url-status=dead|archive-date=June 9, 2013|title=SWREG Inc.: Private Company Information|year=2012|publisher=Bloomberg Businessweek|access-date=2013-02-02}}</ref>
*eSellerate (2006)<ref>{{cite web |title=Digital River Buys eSellerate |url=https://www.thecave.com/2006/06/15/digital-river-buys-esellerate/ |access-date=13 May 2023 |date=2006-06-15}}</ref>
*Freemerchant.com (discontinued 15 January 2008)<ref>{{cite web|url=http://redirector.digitalriver.com/www.freemerchant.com/index.htm|title=Freemerchant.com|year=2008|publisher=Digital River, Inc|author=The FreeMerchant Team|access-date=2013-02-02}}</ref>
*Freemerchant.com (discontinued 15 January 2008)<ref>{{cite web|url=http://redirector.digitalriver.com/www.freemerchant.com/index.htm|title=Freemerchant.com|year=2008|publisher=Digital River, Inc|author=The FreeMerchant Team|access-date=2013-02-02}}</ref>
*THINK Subscription (2008)<ref>{{cite web|url=https://otosreview.com/otos/digital-river-launches-mew-features-for-merchants/|archive-url=https://web.archive.org/web/20220814121607/https://otosreview.com/otos/digital-river-launches-mew-features-for-merchants/|url-status=dead|archive-date=August 14, 2022|title=Digital River introduces a new feature for online merchants|year=2009|publisher=ecommerce-journal|access-date=2009-01-29
}}</ref>
*Journey Education Marketing (2010)<ref>{{cite web|url=https://www.businesswire.com/news/home/20100907006468/en/Digital-River-Acquires-Journey-Education-Marketing|title=Digital River Acquires Journey Education Marketing|year=2010|publisher=businesswire|access-date=15 July 2020}}</ref>
*Journey Education Marketing (2010)<ref>{{cite web|url=https://www.businesswire.com/news/home/20100907006468/en/Digital-River-Acquires-Journey-Education-Marketing|title=Digital River Acquires Journey Education Marketing|year=2010|publisher=businesswire|access-date=15 July 2020}}</ref>
*eSellerate
*THINK Subscription (2008)<ref>{{cite web|url=http://m.ecommerce-journal.com/news/12565_digital_river_introduces_a_new_feature_for_online_merchants/|title=Digital River introduces a new feature for online merchants|year=2009|publisher=ecommerce-journal|access-date=2009-01-29
}}{{dead link|date=December 2016|bot=InternetArchiveBot|fix-attempted=yes}}</ref>
*SWREG (2005)<ref>{{cite web|url=http://investing.businessweek.com/research/stocks/private/snapshot.asp?privcapId=21754551|title=SWREG Inc.: Private Company Information|year=2012|publisher=Bloomberg Businessweek|access-date=2013-02-02}}</ref>
*Fatfoogoo (2010)<ref>{{cite web|url=http://blogs.barrons.com/techtraderdaily/2010/05/05/digital-river-acquires-fatfoogoo/|title=Digital River Acquires Fatfoogoo|year=2010|publisher=Barrons|author=Eric Savitz|access-date=2011-04-24}}</ref><ref>{{cite web|url=https://venturebeat.com/2010/05/05/digital-river-buys-virtual-goods-company-fatfoogoo/|title=Digital River buys virtual goods company Fatfoogoo|year=2010|author=Dean Takahashi|access-date=2010-05-05}}</ref>
*Fatfoogoo (2010)<ref>{{cite web|url=http://blogs.barrons.com/techtraderdaily/2010/05/05/digital-river-acquires-fatfoogoo/|title=Digital River Acquires Fatfoogoo|year=2010|publisher=Barrons|author=Eric Savitz|access-date=2011-04-24}}</ref><ref>{{cite web|url=https://venturebeat.com/2010/05/05/digital-river-buys-virtual-goods-company-fatfoogoo/|title=Digital River buys virtual goods company Fatfoogoo|year=2010|author=Dean Takahashi|access-date=2010-05-05}}</ref>
{{div col end}}
{{div col end}}


==[[Divestment|Divestitures]]==
==[[Divestment|Divestitures]]==
*CCNow (sold to [[Snorrason Holdings]] 2012)<ref>{{cite web|url=http://www.prweb.com/releases/2012/12/prweb10274687.htm|title=Snorrason Holdings to Acquire CCNow from Digital River|year=2012|publisher=PRWeb|author=Snorrason Holdings|access-date=2012-12-31}}</ref>
*CCNow (sold to [[Snorrason Holdings]] 2012)<ref>{{cite web|url=http://www.prweb.com/releases/2012/12/prweb10274687.htm|archive-url=https://archive.today/20130201015356/http://www.prweb.com/releases/2012/12/prweb10274687.htm|url-status=dead|archive-date=February 1, 2013|title=Snorrason Holdings to Acquire CCNow from Digital River|year=2012|publisher=PRWeb|author=Snorrason Holdings|access-date=2012-12-31}}</ref>
*Journey Education Marketing (2013)
*Journey Education Marketing (2013)
Line 42: Line 43:
A security breach in 2010 resulted in nearly 200,000 customers' data being stolen.<ref>{{cite web|url=http://www.startribune.com/business/95584209.html|title=Digital River sues over data breach|year=2010|publisher=Star Tribune|author=Dan Browning|access-date=2011-04-24}}</ref> A lawsuit followed by Digital River.<ref>{{cite web|url=http://www.darkreading.com/security/attacks-breaches/225402000/index.html|title=Digital River Sues Over Theft Of Data On Nearly 200,000 Customers|year=2010|publisher=Darkreading|author=Tim Wilson|access-date=2011-04-24}}</ref>
A security breach in 2010 resulted in nearly 200,000 customers' data being stolen.<ref>{{cite web|url=http://www.startribune.com/business/95584209.html|title=Digital River sues over data breach|year=2010|publisher=Star Tribune|author=Dan Browning|access-date=2011-04-24}}</ref> A lawsuit followed by Digital River.<ref>{{cite web|url=http://www.darkreading.com/security/attacks-breaches/225402000/index.html|title=Digital River Sues Over Theft Of Data On Nearly 200,000 Customers|year=2010|publisher=Darkreading|author=Tim Wilson|access-date=2011-04-24}}</ref>


In October 2017, the websites for [[Equifax]], and for [[TransUnion]]'s Central American division were reported to have been redirecting visitors to websites that attempted [[drive-by download]]s of malware disguised as [[Adobe Flash]] updates.<ref name="ars-hack">{{cite web|url=https://arstechnica.co.uk/information-technology/2017/10/equifax-rival-transunion-also-sends-site-visitors-to-malicious-pages/|title=Equifax rival TransUnion also sends site visitors to malicious pages|access-date=13 October 2017}}</ref><ref name="cnet-hack">{{cite web|url=https://www.cnet.com/news/equifax-website-ads-served-adware-malware-expert-finds/|title=Equifax website showed you ads full of malware, expert finds|access-date=13 October 2017}}</ref> The attack had been performed by hijacking third-party [[website analytics|analytics]] JavaScript from FireClick.<ref>{{cite web|url=http://www.securityweek.com/malicious-redirects-equifax-transunion-sites-caused-third-party-script|title=Malicious Redirects on Equifax, TransUnion Sites Caused by Third-Party Script - SecurityWeek.Com|website=www.securityweek.com|access-date=13 October 2017}}</ref><ref name="ars-hack"/> Digital River decommissioned the FireClick platform and released the domain in 2016, so the domain was not owned by Digital River at the time of the attack.<ref>{{Cite news|url=https://www.wsj.com/articles/equifaxs-latest-security-foil-a-defunct-web-service-1507937742.|title=Equifax’s Latest Security Foil: A Defunct Web Service|last=McMillan|first=Robert|date=October 13, 2017|work=The Wall Street Journal|access-date=January 4, 2019}}</ref>
In October 2017, the websites for [[Equifax]], and for [[TransUnion]]'s Central American division were reported to have been redirecting visitors to websites that attempted [[drive-by download]]s of malware disguised as [[Adobe Flash]] updates.<ref name="ars-hack">{{cite web|url=https://arstechnica.co.uk/information-technology/2017/10/equifax-rival-transunion-also-sends-site-visitors-to-malicious-pages/|title=Equifax rival TransUnion also sends site visitors to malicious pages|date=12 October 2017 |access-date=13 October 2017}}</ref><ref name="cnet-hack">{{cite web|url=https://www.cnet.com/news/equifax-website-ads-served-adware-malware-expert-finds/|title=Equifax website showed you ads full of malware, expert finds|access-date=13 October 2017}}</ref> The attack had been performed by hijacking third-party [[website analytics|analytics]] JavaScript from FireClick.<ref>{{cite web|url=http://www.securityweek.com/malicious-redirects-equifax-transunion-sites-caused-third-party-script|title=Malicious Redirects on Equifax, TransUnion Sites Caused by Third-Party Script - SecurityWeek.Com|website=www.securityweek.com|date=13 October 2017 |access-date=13 October 2017}}</ref><ref name="ars-hack"/> Digital River decommissioned the FireClick platform and released the domain in 2016, so the domain was not owned by Digital River at the time of the attack.<ref>{{Cite news|url=https://www.wsj.com/articles/equifaxs-latest-security-foil-a-defunct-web-service-1507937742.|title=Equifax's Latest Security Foil: A Defunct Web Service|last=McMillan|first=Robert|date=October 13, 2017|work=The Wall Street Journal|access-date=January 4, 2019}}</ref>


==Management history==
==Management history==
Joel Ronning was CEO from the company's founding until stepping down in November 2012.<ref>{{cite web|url=http://www.startribune.com/business/176887141.html|title=Digital River CEO Ronning is out after loss|access-date=13 October 2017}}</ref> In June 2013, Ronning was ranked as the most overpaid CEO at a public company in Minnesota.<ref>{{cite web|url=http://www.bizjournals.com/twincities/news/2013/07/26/overpaid-ceos.html|title=List Leaders: Most overpaid CEOs at Minnesota's public companies|website=Bizjournals.com|access-date=13 July 2018}}</ref>
Joel Ronning was CEO from the company's founding until stepping down in November 2012.<ref>{{cite web|url=http://www.startribune.com/business/176887141.html|title=Digital River CEO Ronning is out after loss|website=[[Star Tribune]] |access-date=13 October 2017}}</ref> In June 2013, Ronning was ranked as the most overpaid CEO at a public company in Minnesota.<ref>{{cite web|url=http://www.bizjournals.com/twincities/news/2013/07/26/overpaid-ceos.html|title=List Leaders: Most overpaid CEOs at Minnesota's public companies|website=Bizjournals.com|access-date=13 July 2018}}</ref>


In February 2013, Dave Dobson was named CEO.<ref name="bicoyle">{{cite web|url=http://www.businesswire.com/news/home/20130228006533/en/Digital-River-Names-David-C.-Dobson-Chief|title=Digital River Names David C. Dobson as Chief Executive Officer|website=www.businesswire.com|access-date=13 October 2017}}</ref>
In February 2013, Dave Dobson was named CEO.<ref name="bicoyle">{{cite press release|url=http://www.businesswire.com/news/home/20130228006533/en/Digital-River-Names-David-C.-Dobson-Chief|title=Digital River Names David C. Dobson as Chief Executive Officer|website=www.businesswire.com|date=28 February 2013 |access-date=13 October 2017}}</ref>


In July 2018, Adam Coyle was named CEO with Mr. Dobson becoming Vice Chairman of the Board. Mr. Coyle had previously been on the board since 2015 and worked as an executive partner with Digital River's private equity owner, Siris Capital.<ref>{{cite web|url=http://markets.businessinsider.com/news/stocks/digital-river-appoints-adam-coyle-as-chief-executive-officer-1027356496|title=Digital River Appoints Adam Coyle as Chief Executive Officer - Markets Insider|first=finanzen.net|last=GmbH}}</ref>
In July 2018, Adam Coyle was named CEO with Mr. Dobson becoming Vice Chairman of the Board. Mr. Coyle had previously been on the board since 2015 and worked as an executive partner with Digital River's private equity owner, Siris Capital.<ref>{{cite web|url=http://markets.businessinsider.com/news/stocks/digital-river-appoints-adam-coyle-as-chief-executive-officer-1027356496|title=Digital River Appoints Adam Coyle as Chief Executive Officer - Markets Insider|first=finanzen.net|last=GmbH}}</ref>

Latest revision as of 03:08, 7 September 2024

Digital River, Inc.
Company typePrivate
Nasdaq: DRIV
IndustrieE-commerce
Gegründet1994; 30 years ago (1994)
GründerJoel Ronning (former CEO)
Hauptsitz,
Area served
Worldwide
Key people
  • Adam Coyle[1] (CEO)
  • Christopher Bernander (CFO)
[citation needed]
ProdukteDigital software delivery
Revenue$370.5 million[2]
Number of employees
1,239[3]
Websitewww.digitalriver.com
Digital River's previous logo.

Digital River, Inc. is a privately held company[4] that provides global e-commerce, payments and marketing services. In 2013, Digital River processed more than $30 billion in online transactions.[citation needed] Digital River is headquartered in Minnetonka, Minnesota.[citation needed]

Company operations

[edit]

Digital River has a history of acquiring other companies in the e-commerce (including digital software delivery) industry.[5]

Notable acquisitions include:

  • Simtel (1999)
  • CCNow (2002)[6]
  • SWREG (2005)[7]
  • eSellerate (2006)[8]
  • Freemerchant.com (discontinued 15 January 2008)[9]
  • THINK Subscription (2008)[10]
  • Journey Education Marketing (2010)[11]
  • Fatfoogoo (2010)[12][13]

Security failings

[edit]

A security breach in 2010 resulted in nearly 200,000 customers' data being stolen.[15] A lawsuit followed by Digital River.[16]

In October 2017, the websites for Equifax, and for TransUnion's Central American division were reported to have been redirecting visitors to websites that attempted drive-by downloads of malware disguised as Adobe Flash updates.[17][18] The attack had been performed by hijacking third-party analytics JavaScript from FireClick.[19][17] Digital River decommissioned the FireClick platform and released the domain in 2016, so the domain was not owned by Digital River at the time of the attack.[20]

Management history

[edit]

Joel Ronning was CEO from the company's founding until stepping down in November 2012.[21] In June 2013, Ronning was ranked as the most overpaid CEO at a public company in Minnesota.[22]

In February 2013, Dave Dobson was named CEO.[1]

In July 2018, Adam Coyle was named CEO with Mr. Dobson becoming Vice Chairman of the Board. Mr. Coyle had previously been on the board since 2015 and worked as an executive partner with Digital River's private equity owner, Siris Capital.[23]

In January 2020, Christopher Bernander was named CFO.[24]

References

[edit]
  1. ^ a b "Digital River Names David C. Dobson as Chief Executive Officer". www.businesswire.com (Press release). 28 February 2013. Retrieved 13 October 2017.
  2. ^ "Digital River Reports Fourth Quarter and Full Year 2013 Financial Results". Digital River. 2014. Retrieved 2014-02-05.
  3. ^ "2009 Annual Report". Digital River. 2009. Archived from the original on 2013-02-21. Retrieved 2007-12-01.
  4. ^ "Digital River Announces Completion of Acquisition by Investor Group Led by Siris Capital Group - Digital River". Digitalriver.com. Retrieved 13 October 2017.
  5. ^ Sharon Housley (2004). "Digital River's Destructive Acquisition Strategy". Security Pro News. Retrieved 2011-04-24.
  6. ^ Kurt Peters (2002). "Digital River Acquires Certain Assets of CCNow.com". Internet Retailer. Archived from the original on 2012-10-05. Retrieved 2013-02-02.
  7. ^ "SWREG Inc.: Private Company Information". Bloomberg Businessweek. 2012. Archived from the original on June 9, 2013. Retrieved 2013-02-02.
  8. ^ "Digital River Buys eSellerate". 2006-06-15. Retrieved 13 May 2023.
  9. ^ The FreeMerchant Team (2008). "Freemerchant.com". Digital River, Inc. Retrieved 2013-02-02.
  10. ^ "Digital River introduces a new feature for online merchants". ecommerce-journal. 2009. Archived from the original on August 14, 2022. Retrieved 2009-01-29.
  11. ^ "Digital River Acquires Journey Education Marketing". businesswire. 2010. Retrieved 15 July 2020.
  12. ^ Eric Savitz (2010). "Digital River Acquires Fatfoogoo". Barrons. Retrieved 2011-04-24.
  13. ^ Dean Takahashi (2010). "Digital River buys virtual goods company Fatfoogoo". Retrieved 2010-05-05.
  14. ^ Snorrason Holdings (2012). "Snorrason Holdings to Acquire CCNow from Digital River". PRWeb. Archived from the original on February 1, 2013. Retrieved 2012-12-31.
  15. ^ Dan Browning (2010). "Digital River sues over data breach". Star Tribune. Retrieved 2011-04-24.
  16. ^ Tim Wilson (2010). "Digital River Sues Over Theft Of Data On Nearly 200,000 Customers". Darkreading. Retrieved 2011-04-24.
  17. ^ a b "Equifax rival TransUnion also sends site visitors to malicious pages". 12 October 2017. Retrieved 13 October 2017.
  18. ^ "Equifax website showed you ads full of malware, expert finds". Retrieved 13 October 2017.
  19. ^ "Malicious Redirects on Equifax, TransUnion Sites Caused by Third-Party Script - SecurityWeek.Com". www.securityweek.com. 13 October 2017. Retrieved 13 October 2017.
  20. ^ McMillan, Robert (October 13, 2017). "Equifax's Latest Security Foil: A Defunct Web Service". The Wall Street Journal. Retrieved January 4, 2019.
  21. ^ "Digital River CEO Ronning is out after loss". Star Tribune. Retrieved 13 October 2017.
  22. ^ "List Leaders: Most overpaid CEOs at Minnesota's public companies". Bizjournals.com. Retrieved 13 July 2018.
  23. ^ GmbH, finanzen.net. "Digital River Appoints Adam Coyle as Chief Executive Officer - Markets Insider".
  24. ^ "tech.mn – Digital River Appoints New CFO". tech.mn. 2020-01-28. Retrieved 2020-04-23.
[edit]